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CMHC Just Cut Its Housing Forecast — What It Means If You're Buying, Selling, or Renewing

  Published July 28, 2026 Canada Mortgage and Housing Corporation quietly downgraded its outlook for the rest of 2026 last week, and the new numbers are worth a look no matter which side of the housing market you're standing on. The federal housing agency's Summer 2026 update now calls for slower growth, softer home prices, fewer new builds and continued easing in rental markets right through the end of the year — with a split that leaves Ontario and B.C. looking a lot different from the Prairies and Quebec. Here's what's actually in the update, and what it means for your specific situation. What CMHC changed The agency's baseline call for 2026 is a Canadian economy growing at just 0.7%, with high borrowing costs, weak population growth and cautious buyers keeping a lid on demand even as affordability has technically improved. The practical result, nationally: Housing starts are expected to fall to about 241,400 units this year, down from 259,028 in 2025 Resale acti...
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Carney and Trump Reopen Dialogue Amid Prolonged Trade Rift

 

                                    U.S. President Donald Trump and Canadian Prime Minister Mark Carney, left.


After months of silence following the collapse of Canada–U.S. trade negotiations, Prime Minister Mark Carney and U.S. President Donald Trump held a “productive and wide-ranging” phone call on Thursday.

According to the Prime Minister’s Office, the discussion focused on ongoing trade challenges, potential economic opportunities, and shared priorities for a renewed bilateral relationship. Carney also raised the idea of establishing a new economic and security framework between the two countries, while both leaders touched on efforts to bolster long-term peace and security for Ukraine and Europe.

The conversation marks the first direct engagement between the two since early August, when talks to finalize a trade pact fell apart. The breakdown came after Trump imposed sweeping tariffs — including a 35% levy on most Canadian exports not compliant with the Canada–U.S.–Mexico Agreement — citing border security concerns. Ottawa has rejected the measures as unjustified, noting that more illicit drugs have been intercepted entering Canada from the U.S. than the other way around.

While no breakthrough was announced, both sides agreed to continue discussions, offering a tentative sign that the diplomatic freeze may be thawing.

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